Every year the Index of Economic Freedom is published. in the executive summary there a few key points made which are very interesting and very debateable. I list some of the points I enjoyed in the following list.
The positive relation-ship between economic freedom and prosperity is confirmed yet again in the 2010 Index.
- Gross domestic product per capita is much higher in countries that score well in the Index. The positive relationship holds true at all levels of economic freedom but becomes even more dramatic as economic freedom increases.
- Economic freedom improves the overall quality of life, promotes political and social prog-ress, and supports envi-ronmental protection.
- The 2010 Index provides strong evidence that economic freedom has far- reaching positive impacts on various aspects of human development. Economic freedom corre-lates with poverty reduction, a variety of desir- able social indicators, democratic governance, and environmental sustainability.
- As a result of increasing government interference in economic activity in many countries, overall progress toward greater economic freedom has been interrupted.
And here is the real kicker -
Increased government spending did not improve economic crisis performance.
What do you think?